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2022
Vulnerability Scanning In Bfsi Market

Vulnerability Scanning in BFSI Market by Component (Software and Hardware), Vulnerability Type (Content Manager Vulnerability, IOT Vulnerability, API Vulnerability and Others [Server Technologies Vulnerabilities and Database Vulnerabilities]), Deployment (On-Premises and Cloud) and End-User (Banks, Insurance Companies, Securities and Other Financial Institutions): Global Opportunity Analysis and Industry Forecast, 2021–2030

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COVID-19

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Vulnerability scanning is a type of security detection (penetration attack) behavior that uses a vulnerability database to find exploitable vulnerabilities in a designated remote or local computer system via scanning and other methods. A vulnerability scan identifies and classifies system flaws in computers, networks, and communications equipment, as well as predicts how effective countermeasures will be.

An organization's IT department or a security service provider may conduct a scan, possibly as a condition imposed by some authority to find out the potential threats that might take place. Furthermore, a vulnerability scanner runs from the person inspecting the attack surface in question to the endpoint of the scanner. Details about the targeted attack surface are compared to a database of known security holes in services and ports, packet construction anomalies, and potential paths to exploitable programs or scripts.

The scanner software tries to exploit every flaw it finds. Therefore, due to its assistance in network securities for organizations across BFSI sector, there is expected to be a growth in the vulnerability scanning in BFSI market in the upcoming years.

"The Global vulnerability scanning in BFSI market is segmented on the basis of Component, Vulnerability Type, Deployment, End-User and region. Based on Component, the market is divided into Software and Hardware. In terms of Vulnerability, the market is categorized into Content Manager Vulnerability, IOT Vulnerability, API Vulnerability. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global vulnerability scanning in BFSI industry include KEY Microsoft Corporation, Trend Micro Inc., Dell, Cisco Systems Inc., Check Point Software Technologies Ltd, Palo Alto Networks, Juniper Networks Inc. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global vulnerability scanning in BFSI market."

Market Scope and Structure Analysis:

Report Metric

Details

 Market size available for years

  2020–2030

  Base year considered  

  2020

  Forecast period

  2021–2030

  Forecast units

  Value ($)

  Segments covered

Component, Vulnerability Type, Deployment, End-User and Region

  Companies covered

Major players analyzed include International Business Machines (IBM) Corporation, Microsoft Corporation, Trend Micro Inc., Dell, Cisco Systems Inc., Check Point Software Technologies Ltd, Palo Alto Networks, Juniper Networks Inc., Fortinet Inc. and AVG Technologies

 

COVID-19 Scenario Analysis

  • Various governments and regulatory agencies are requiring public and private organizations to adopt new practices for working remotely and maintaining social distance in the wake of COVID-19. Since then, digital business practices have become the new business continuity plan (BCP) for a variety of companies.
  • Individuals and businesses are increasingly inclined to use various types of digital devices as a result of the widespread use of BYOD devices, the WFH trend, IoT, and internet penetration across critical industry verticals such as finance and insurance, healthcare and social assistance, and information, driving the need for security and vulnerability management solutions for protection against cyber-attacks.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

The rise in vulnerabilities in BFSI market across the globe and the rise of the industrial revolution are driving the growth of the market. In addition, the increase in the rise of cyber-attacks propels the growth of the market. However, security breaches due to internal vulnerabilities are expected to hamper the market growth. Contrarily, the growing adoption of digital security & data scanning solutions across developed economies are expected to provide lucrative opportunities to the market in the upcoming years.

The global vulnerability scanning in BFSI market trends are as follows:

Rise in Vulnerabilities in the BFSI Sector Across the Globe:

Organizations must invest in cybersecurity to protect their digital assets from the growing number of cyber threats. In today's rapidly changing threat landscape, threat monitoring and cyber defense are critical. Phishing attacks, ransomware, malware, vishing, browser gateway frauds, distributed denial of service (DDoS), whaling, and spear phishing are some of the most well-known cyber threats. Furthermore, endpoints, networks, data, and other IT infrastructure are targeted by cyber terrorists, resulting in significant financial losses for individuals, businesses and governments. Moreover, cybercrime is becoming more common as the number of global digital transactions across the BFSI sector is growing at a rapid pace. The market for cybersecurity products and services is being fueled by an increase in enterprise data breaches or data leakages. As a result, protecting enterprise networks from cyber threats has become critical for business growth, which will further boost the growth of vulnerability scanning in  BFSI market during the forecast period.

Industrial Expansion:

With the introduction of technological advancements in the industry, the interconnected span began. Interconnecting  partners, customers, employees, and systems across the value chain to improve business performance and open up new opportunities by collaborating on a single platform. Furthermore, the industrial internet is based on the idea of using data analytics and cloud computing solutions to empower machines to make their own decisions. Advanced threats come in a variety of shapes and sizes, but they all aim to compromise vulnerable networks. Moreover, attackers exploiting network flaws to gain access to systems belonging to a variety of companies, are propelling the growth of vulnerability scanning in BFSI market during the forecasted period. 

Key Benefits of the Report:

  • This study presents an analytical depiction of the global vulnerability scanning in BFSI market size along with the current trends and future estimations to determine the imminent investment pockets.    
  • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the vulnerability scanning in BFSI market share.     
  • The current market is quantitatively analyzed from 2021 to 2030 to highlight the global vulnerability scanning in BFSI market growth scenario.         
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the vulnerability scanning in BFSI market forecast.    
  • The report provides a detailed market analysis depending on the present and future competitive intensity of the vulnerability scanning in BFSI market analysis.

Questions Answered in the Vulnerability Scanning in BFSI Market Research Report:    

  • Which are the leading players active in the global vulnerability scanning in BFSI market?
  • What would be the detailed impact of COVID-19 on the global vulnerability scanning in BFSI market?
  • What are current trends that would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the global vulnerability scanning in BFSI market?
  • What are the projections for the future that would help in taking further strategic steps?

Key Market Segments

Segments Sub-segments
Component
  • Software
  • Hardware
Vulnerability Type
  • Content Manager Vulnerability
  • IOT Vulnerability
  • API Vulnerability
  • Others
    • Server Technologies Vulnerabilities
    • Database Vulnerabilities
Deployment
  • On-Premises
  • Cloud
End-User
  • Banks
  • Insurance Companies
  • Securities
  • Other Financial Institutions
By Region
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa
 
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